v3.25.2
Unaudited Consolidated Statements of Changes in Equity - USD ($)
$ in Thousands
Total
Common Stock
Common Stock Class F
Common Stock
Common Stock Class Y
Common Stock
Common Stock Class T
Common Stock
Common Stock Class S
Common Stock
Common Stock Class D
Common Stock
Common Stock Class M
Common Stock
Common Stock Class I
Additional Paid-In Capital
Accumulated Other Comprehensive Income (Loss)
Retained Earnings (Accumulated Deficit)
Beginning balance at Dec. 31, 2023 $ 2,791,962 $ 7 $ 9 $ 13 $ 646 $ 6 $ 49 $ 475 $ 2,869,801 $ (6,986) [1] $ (72,058)
Increase (Decrease) in Stockholders' Equity [Roll Forward]                      
Common stock issued 250,922       45   5 58 250,814    
Distributions declared (108,608)                   (108,608)
Proceeds from distribution reinvestment plan 53,885       11   1 11 53,862    
Repurchases of common stock (233,645)     (3) (54) (2) (3) (38) (233,545)    
Stockholder servicing fees (1,358)               (1,358)    
Offering costs (1,893)               (1,893)    
Restricted stock units issued 15,235               15,235    
Net income 48,785                   48,785
Dividends on preferred stock (8)                   (8)
Other comprehensive income (loss) 1,586                 1,586 [1]  
Ending balance at Jun. 30, 2024 2,816,863 7 9 10 648 4 52 506 2,952,916 (5,400) [1] (131,889)
Beginning balance at Mar. 31, 2024 2,792,512 7 9 11 641 5 52 494 2,907,715 (6,340) [2] (110,082)
Increase (Decrease) in Stockholders' Equity [Roll Forward]                      
Common stock issued 128,616       22   2 31 128,561    
Distributions declared (54,768)                   (54,768)
Proceeds from distribution reinvestment plan 27,133       6   1 5 27,121    
Repurchases of common stock (115,558)     (1) (21) (1) (3) (24) (115,508)    
Stockholder servicing fees (1,680)               (1,680)    
Offering costs (966)               (966)    
Restricted stock units issued 7,673               7,673    
Net income 32,965                   32,965
Dividends on preferred stock (4)                   (4)
Other comprehensive income (loss) 940                 940 [2]  
Ending balance at Jun. 30, 2024 2,816,863 7 9 10 648 4 52 506 2,952,916 (5,400) [1] (131,889)
Beginning balance at Dec. 31, 2024 2,767,650 7 8 8 648 4 46 482 2,883,909 (3,164) [1] (114,298)
Increase (Decrease) in Stockholders' Equity [Roll Forward]                      
Common stock issued 221,078       44     49 220,985    
Distributions declared (107,385)                   (107,385)
Proceeds from distribution reinvestment plan 53,282       11     11 53,260    
Repurchases of common stock (305,583) (1)     (56)   (7) (61) (305,458)    
Stockholder servicing fees (514)               (514)    
Offering costs (1,659)               (1,659)    
Restricted stock units issued 14,764               14,764    
Net income 69,720                   69,720
Dividends on preferred stock (8)                   (8)
Other comprehensive income (loss) 1,568                 1,568 [1]  
Ending balance at Jun. 30, 2025 2,712,913 6 8 8 647 4 39 481 2,865,287 (1,596) [1] (151,971)
Beginning balance at Mar. 31, 2025 2,728,424 7 8 8 644 4 41 478 2,855,273 (2,189) [2] (125,850)
Increase (Decrease) in Stockholders' Equity [Roll Forward]                      
Common stock issued 97,345       19     21 97,305    
Distributions declared (53,197)                   (53,197)
Proceeds from distribution reinvestment plan 26,248       5     6 26,237    
Repurchases of common stock (119,125) (1)     (21)   (2) (24) (119,077)    
Stockholder servicing fees (1,072)               (1,072)    
Offering costs (731)               (731)    
Restricted stock units issued 7,352               7,352    
Net income 27,080                   27,080
Dividends on preferred stock (4)                   (4)
Other comprehensive income (loss) 593                 593 [2]  
Ending balance at Jun. 30, 2025 $ 2,712,913 $ 6 $ 8 $ 8 $ 647 $ 4 $ 39 $ 481 $ 2,865,287 $ (1,596) [1] $ (151,971)
[1] Comprised solely of unrealized gain (loss) on mortgage-backed securities, available for sale
[2] Comprised solely of unrealized gain (loss) on mortgage-backed securities, available for sale